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Oil drops from five-month high with hurricane heading inland

Oil dropped from a five-month high as Hurricane Laura closed in on Louisiana, taking a path away from Houston's massive energy infrastructure.

Photo: ERIC THAYER/AFP / GETTY IMAGES NORTH AMERICA

Oil slipped from a five-month high as Hurricane Laura, which has disrupted refineries in the US Gulf, took a path away from the Houston area's massive energy infrastructure.

Laura made landfall early Thursday at Cameron, Louisiana, near the border with Texas, as a Category 4 storm and has started weakening. While it knocked out power to hundreds of thousands of people and has caused widespread damage, traders are waiting to assess the potential impact on both fuel production and consumption.

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